Figure 21-19 The Following Graph Illustrates a Representative Consumer's Preferences for Marshmallows

question 305

Multiple Choice

Figure 21-19
The following graph illustrates a representative consumer's preferences for marshmallows and chocolate chip cookies:

-Refer to Figure 21-19.Assume that the consumer has an income of $80.If the price of chocolate chips is $4 and the price of marshmallows is $4,the optimizing consumer would choose to purchase

• A) 9 marshmallows and 6 chocolate chips.
• B) 10 marshmallows and 10 chocolate chips.
• C) 5 marshmallows and 5 chocolate chips.
• D) 3 marshmallows and 9 chocolate chips.

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Definitions:

Preponderance Of The Evidence

A legal standard that requires more than 50% of the evidence to support one side in a civil case.

Civil Case

A legal dispute between two or more parties in which compensation may be awarded to the victim as opposed to criminal sanctions.

Law

A system of rules created and enforced through social or governmental institutions to regulate behavior.

System Of Rules

A structured set of guidelines or principles designed to govern behavior or processes.